Have Lloyds TSB shown prejudice by mis-selling me their PPI?

[Scatty1985]

Hi,

 

I’ve begun thinking about whether Lloyds TSB have shown prejudice toward my agreement by mis-selling my their Loan Protection Insurance.

 

I read this article and realised that the PPI I was mis-sold is also a Lloyds TSB product. At the time of taking the loan out I was told that I would not have the loan agreed unless I included their PPI because I was young.

 

The loan was taken out in June 07 and the agreement is not signed by either myself or Lloyds TSB. I am aware that s.127(3) does not apply in this case since I took out my loan after april 07 however, perhaps there are avenues I could explore regarding unfair relationships or prejudice because of the way the PPI was sold and the fact it is one of their products.

 

So far Lloyds TSB have made me an offer to settle the complaint about the mis-sold PPI but it is not in line with the FOS redress recommendations. I intend to write back to them with the letter at the bottom of this tread.

 

I've started this as a new thread so that it does not get confused with my other PPI thread.

 

Thanks

[Scatty1985]

Bump

[NGEddie]

 

So far Lloyds TSB have made me an offer to settle the complaint about the mis-sold PPI but it is not in line with the FOS redress recommendations. I intend to write back to them with the letter at the bottom of this tread.

 

 

How did you go about making the complaint, and getting them to offer to settle it?

[Scatty1985]

I first complained that the agreement was unenforceable because it was not signed by either party. For some reason they passed this complaint onto the insurance side of things who looked into my account and made an offer settle the complaint regarding PPI, even though I'd never actually mentioned any issue with PPI!

I’ve not yet signed or accepted any offers from them...

[Scatty1985]

Any ideas....

[dx100uk]

well i wouldn't accept their offer without geting it checked first. by say using the ppi calculator

 

dx

[postggj]

Seems To Me They Are Trying To Get A Full And Final With No Future Litigation

[Scatty1985]

Yea that’s pretty much what the letter says. They have made a PPI offer in line with the FOS but they want me to sign a document accepting the offer as a full and final settlement of the complaint. I'm guessing if I do that I won’t have a leg to stand on when it comes to the agreement.

 

Would it be better to write to them and point this out? I'm guessing I would have to initiate legal action against them and get a decent solicitor to take a look at my agreement and case... Where would be a good place to find a decent solicitor?

[NGEddie]

Does the offer outway or clear what you have outstanding? and were you or are you making montly payments for it up to date?

 

I will start a new thread if needed, but if you have had many loans, one clearing the prior one etc..... Do they give you the PPI back each time you take out a new one?

 

Say for example a 7 year loan, you have paid for 7 years upfront, then 4 years into it you take a new loan and clear the old one, what happens to the 3 years of pre-paid PPI you have not used?

Edited January 4, 2010 by NGEddie
text change

[dx100uk]

Yea that’s pretty much what the letter says. They have made a PPI offer in line with the FOS but they want me to sign a document accepting the offer as a full and final settlement of the complaint. I'm guessing if I do that I won’t have a leg to stand on when it comes to the agreement.

 

Would it be better to write to them and point this out? I'm guessing I would have to initiate legal action against them and get a decent solicitor to take a look at my agreement and case... Where would be a good place to find a decent solicitor?

 

no do it yourself.

 

did they give you breakdown of how they calc'd the refund? if not, write and ask for a breakdown.

 

dx

[dx100uk]

Does the offer outway or clear what you have outstanding? and were you or are you making montly payments for it up to date?

 

I will start a new thread if needed, but if you have had many loans, one clearing the prior one etc..... Do they give you the PPI back each time you take out a new one?

 

Say for example a 7 year loan, you have paid for 7 years upfront, then 4 years into it you take a new loan and clear the old one, what happens to the 3 years of pre-paid PPI you have not used?

 

no they don't! thats how they con you!

and they charge int twice! and ppi on ppi!

 

you need to start your own thread in the ppi forum and readthe stickie 'notes for claimants' at the top.

 

dx